Online Auctions

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  • Online Auctions
    • Buyers and sellers can be all over the world
      • Popular as its much easier and takes less time to find the item or buyer you need
    • How They Work
      • Seller and bidder create online accounts
      • Seller supplies a description and a photograph of an item for auction
      • The bidder with the highest bid as a scheduled time wins the item
      • The bidder is obliged to but the item they have won in the auction
      • The seller and bidder exchange emails to arrange payment and delivery
    • Features
      • Bidders can search for items they want
      • Bidders can see the status of their bids
      • Changes can be made before the scheduled end time
      • Users of the auction service can rate each other
      • Sellers can choose to make an item available for purchase immediately rather than have bidders bid for it
      • Secure payment is arranged by the auction site
    • Benefits
      • The ability to search easily for goods that you want
      • A community of users which builds trust by rating both buyers and sellers
      • Third party payment options for secure payments
      • A large number of sellers competing for business, which drives down prices


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